UPDATE 1-North American Palladium files for $300 mln mixed shelf

* Says to use proceeds to fund exploration, development

* Says to consider acquiring gold mining properties



Jan 26 (Reuters) - Precious metals company North American Palladium Ltd plans to sell up to $300 million in debt securities, common shares, warrants and units over a period of 25 months, it said in a regulatory filing.

The company will use the proceeds to fund exploration and development at its Lac des Iles mine in Ontario and Sleeping Giant mine in Quebec, and any future properties, according to a filing with the U.S. Securities and Exchange Commission.

The proceeds from the sale of securities will also be used to fund exploration and development costs at its Dormex and Discovery properties, and for general corporate purposes, the company said.

The company added it will consider acquiring gold mining properties as a part of its development strategy.

Shares of the company were down 4 Canadian cents at C$4.29 Tuesday afternoon on the Toronto Stock Exchange.

(Reporting by Koustav Samanta in Bangalore; Editing by Anne Pallivathuckal) Keywords: NORTHAMERICANPALLADIUM/ ([e-mail]; within U.S. [phone]; outside U.S. [phone]; Reuters Messaging: [e-mail]) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.